CA > Long Beach > Eastside
Long Beach, CA 90804,938 Stanley Avenue
Long Beach, CA 90804,938 Stanley Avenue
Long Beach, CA 90804,938 Stanley Avenue
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Listed by Keaton Quaack • Lyon Stahl Investment Real Estate, Inc.
$2,375,000
Est. payment /mo
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5,034 SqFt
New

938 Stanley Avenue Long Beach, CA 90804

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Camille Marsh

Camille Marsh

+1(805) 387-2350

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Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 5,034 sqft

Price per Sqft $471

Subdivision Eastside

MLS Listing ID SB-25092114

Style Craftsman

Year Built 1925

Lot Size 5,201 Sqft

Property Sub-Type Apartment

Property Description

We are pleased to exclusively offer for sale this 9 Unit Multi-Family investment located in the vibrant 90804 submarket of Long Beach. This 5,201 SF lot is centrally positioned in Long Beach and offers tenants convenient access to the entirety of the city as well as the confluence of both Los Angeles and Orange County freeway systems. In addition to the building's excellent location, it has an outstanding unit mix consisting of (2) 2 Bed/2 Bath Units, (2) 2 Bed/1 Bath units, and (5) 1 Bed/1 Bath units. Further, the front house has a new roof and many of the major electric and plumbing systems have been upgraded. This kind of meticulous management is indicative of a well-run operation providing a smooth, headache free investment. As it stands, the offering presents strong day one income with a current CAP Rate of 6.00% as well as a GRM of 10.95 and future upside with a pro forma CAP Rate of 7.41% and GRM of 9.68. Along these lines, the property features onsite washer and dryer hookups allowing investors an easy avenue to increase their annual Cash Flow upon acquisition. All in all, the building is a half mile from Retro Row and just over a mile from the Traffic Circle and the vast dining, shopping, and entertainment options therein. This provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.

Location

State CA

County Los Angeles

Area 3 - Eastside, Circle Area

Zoning LBR2N

Interior

Interior Features Copper Plumbing Partial, Ceiling Fan(s), Balcony, Granite Counters, Pantry, Storage

Heating Wall Furnace, Central

Cooling Central Air, Wall/Window Unit(s)

Flooring Vinyl, Wood

Laundry Gas Dryer Hookup, Washer Hookup

Exterior

Parking Features None

Pool None

Community Features Biking, Curbs, Dog Park, Golf, Gutters, Park, Street Lights, Urban

Utilities Available Sewer Available, Water Available, Electricity Available, Natural Gas Available

View Y/N Yes

Building

Lot Description Corner Lot, Front Yard, Near Public Transit, Rectangular Lot

Sewer Sewer Paid

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agent

Camille Marsh

Broker Associate | License ID: 01277020

+1(805) 387-2350

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938 Stanley Avenue